Huobi Global Review 2023

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Huobi Global is a prominent cryptocurrency exchange that has a significant impact in Asian markets. Established in 2013, it offers a comprehensive digital asset ecosystem which includes spot trading, derivatives trading, staking, crypto loans, and various yield products.

Huobi Global: A Comprehensive Platform for Crypto Trading and Investment, but Lacks Regulatory Compliance and Not Available in US

Pros and Cons Explained :

Huobi Global — The Simple Way to Trade Cryptocurrency:

Pros:

• You can buy and sell a lot of digital currencies on Huobi Global.
• You can earn money by keeping your digital currencies in Huobi.
• You can find many different digital currencies on Huobi.

Cons:

• Some people have said that Huobi Global might not be completely honest about how much trading is happening on its platform.
• Huobi Global is not regulated in some countries.
• Huobi Global’s website might be a bit complicated for people who are new to buying and selling digital currencies.

Trading Experience:

Elevate Your Trading Experience with Huobi Global — Available on Web and Mobile App

• Huobi Global is accessible as a web-based platform and mobile app for Android and iOS devices.
• The exchange provides VIP account tiers based on the number of Huobi Experience (EXP) points a user has accumulated. Users can earn EXP by trading and holding cryptocurrencies on the platform.
• Depending on the number of EXP earned in the last 30 days, users can upgrade to different VIP levels — Advanced, Insider, Premier, Ambassador, or Partner.
• VIP account holders enjoy perks such as gifts, personal account manager, and increased limits, which enhance their trading experience.

Fees:

Trade with Low Fees on Huobi Global — More Savings with Huobi Token (HT)

• Huobi Global charges a 0.2% base fee for trading.
• Users who hold Huobi Token (HT) in their exchange wallet receive a discount on trading fees. The more HT a user holds, the greater the discount.
• Huobi Global uses a tiered fee structure based on the user’s 30-day trading volume and HT holdings.
• As an example, if a user has 10 HT in their exchange wallet, the trading fee rate would be 0.18%, which is a 10% discount off the base rate of 0.2%. If a user has 2,000 HT, the trading fee rate would be 0.08%, which is a 60% discount off the base rate.

Trading and Withdrawal Limits:

Trade and Withdraw with No Restrictions on Huobi Global — Increase Your Limits by Verifying Your Identity

• Huobi Global has daily trading and withdrawal limits for users.
• These limits increase as users complete different verification levels.
• For example, after completing registration, users have a Digital Assets Withdrawal Quota of 0.06 BTC per 24 hours, after ID verification, the limit increases to 100 BTC per 24 hours and with advanced verification, the limit remains 100 BTC per 24 hours.
• P2P, Single or Total Trade Volume Quota is 156 USD (Est.) after registration and increases to 313 USD (Est.) or 1569 USD (Est.) after ID verification and no upper limits after completing Advanced Verification.
• Derivatives trading is not available for unverified users, but for ID and Advanced verified users, no upper limits if activating all Derivatives accounts.

Security:

Trade Securely with Huobi Global — Advanced Security Measures and Regulatory Approval in Gibraltar

• Huobi Global takes security seriously and holds client funds in multi-signature cold wallets and has a 20,000 BTC Security Reserve Fund to handle extreme security incidents.
• However, the exchange may not be operating under a license in certain jurisdictions as it is incorporated as an unregulated entity in the Seychelles.
• For example, in November 2021, Huobi had to close accounts of users in Singapore to comply with local laws, putting the country on the exchange’s restricted jurisdictions list.
• The exchange has recently received regulatory approval to set up its crypto spot trading business in Gibraltar, where it holds a distributed ledger technology (DLT) provider license from the Gibraltar Financial Services Commission (GFSC) which will allow Huobi to offer its cryptocurrency buying and selling services through a regulated entity.

Opening a Huobi Global Account:

Get Started with Huobi Global — Easy Sign Up and Increase Limits with ID Verification

• To open an account on Huobi Global, you will need to provide an email address and password.
• After that, you will receive a confirmation email to verify your email address.
• Once you have verified your email, you can access the platform and explore its products and features.
• However, you will be subject to low trading and withdrawal limits with just a basic registration.
• To increase these limits, you will need to complete ID verification by submitting a government-issued identification document

Customer Service:

Get Help When You Need it with Huobi Global — Comprehensive Support but Limited Phone Support

• Huobi Global offers customer support through a support center, help tickets, email, and live chat. However, it does not offer phone support.

Customer Satisfaction:

• The complexity of Huobi’s platform and its regulatory challenges have affected user satisfaction.
• Huobi’s Trustpilot rating of 2 out of 5 stars highlights some of the issues customers have faced, such as difficulty withdrawing funds, poor customer service experiences, and restriction on UK-based users from trading despite allowing GBP deposits.

FINAL TAKE:

Final Thoughts on Huobi Global — A Promising Platform for Experienced Traders but Limited Access Due to Regulatory Challenges

• Huobi Global offers deep liquidity, a wide range of cryptocurrencies, and yield-earning opportunities, making it a desirable choice for experienced crypto traders.
• However, the exchange’s inability to comply with regulations in various jurisdictions limits its reach to customers globally. Additionally, beginners may find the platform’s extensive range of products and services overwhelming.

Join me on Huobi Global and experience the world of crypto trading like never before! With deep liquidity, a wide range of cryptocurrencies, and yield-earning opportunities, Huobi is the perfect platform for experienced traders. Plus, when you sign up through my referral link, we’ll both receive a bonus. Don’t miss out on this opportunity to take your trading to the next level.